The government has lifted the liquidation order for Moi University SACCO, and the savings co-op now gets a second lease on life.
Cooperatives and MSME Development Cabinet Secretary Wycliffe Oparanya announced the news on his X account, stating that the Commissioner for Cooperative Development has been directed to reinstate the registration certificate for the Moi University SACCO Society Limited.
This, he said, was informed by the results of broad consultations with MUSCCO members, the Senate, and the report from the task force appointed by the ministry.
According to the CS, the members demonstrated their commitment to the institution’s revival by backing the stabilization plan and the interim leadership that will guide the institution.
To this effect, the members elected an interim board comprising five officials who will run the institution temporarily.
Further, the elections for the full board and the supervisory committee are set to take place within the stipulated period.
“This is a second chance, and it has to come with good governance, legal compliance, and ethical leadership. Anyone who has been involved in any form of wrongdoing will still face the law.”
This was announced by the cabinet secretary, who emphasized that the main concern remains the safety and security of the members’ savings.
The meeting was also attended by Nandi Senator Margaret Kamar, the Deputy Governor, and the task force.
Further, the government also vowed to continue improving the SACCO industry through legal and institutional reforms aimed at improving the industry’s sustainability for the members across the country.
